Medical issues, health problems, and accidents are not only physically draining but also emotionally taxing. For instance, things might get much more difficult when a family's breadwinner becomes ill. Under these circumstances, having a robust health insurance policy can help you get through these catastrophes without losing your financial stability.
A catastrophic health insurance plan covers abrupt medical emergencies, unforeseen injuries, and sudden illnesses. In other terms, a catastrophic health insurance plan offers 360 degree financial assistance to cover expensive medical bills that you may not be able to afford right out of your pockets. That said, let's look into the best catastrophic insurance plan available in the market and learn more about the necessity of purchasing catastrophic medical insurance.
Investing in health insurance plans as soon as one begins to earn money is an integral part of financial planning. Following are some of the major reasons why health insurance is a necessity:
The most important reason to get health insurance is its ability to cover hospitalisation costs in the event of an emergency or sudden illness. The costs that are covered include in-patient hospital expenses, intensive care unit (ICU) fees, room charges, surgical fees, the cost of medical inquiry, and daycare. The insurance catastrophic coverage also covers doctor's fees and other pre- and post-hospitalisation costs. Besides this, these plans cover the cost of diagnostics and annual preventive health check-ups, thereby allowing better health monitoring.
Those who buy health insurance coverage are better at budgeting their yearly expenses. In the event of an emergency, you could easily lose thousands or even lakhs of rupees due to skyrocketing medical expenses. However, it becomes easier to handle the growing cost of medical bills if you invest in and have a catastrophic major medical insurance policy right from an early age.
The hospital from where the treatment is receiving plays a vital role in improving the physical as well as psychological condition of an individual. Getting access to a reputable healthcare institution often helps patients recover faster and feel better mentally, which in turn affects how well they feel physically. Moreover, you can rest assured knowing that you/your loved ones are getting treated by the best healthcare providers. However, these amenities can be expensive and can be difficult to get without health insurance.
In contemporary times, the likelihood of developing diseases has increased owing to a sedentary lifestyle, unhealthy dietary patterns, and heightened stress levels. Conditions such as obesity, diabetes, and heart ailments, once associated mainly with aging, have now become increasingly common. However, with the best catastrophic health insurance policy, you have sufficient financial resources to pay for the medical care, prescription drugs, and the necessary support needed to control and stop the progression of certain illnesses.
Medical emergencies cannot be prevented. However, you can prepare yourself for the financial strain that comes with it. For example, the expenses involved in a bypass surgery for a loved one who has a sudden heart attack can be extremely high. In many hospitals, treatment for patients often commences only after the required payment is made. Yet, by investing in an affordable catastrophic health insurance plan, you can begin with the treatment immediately by admitting your loved one to a network hospital.
>> Also Read: What is Better Cashless or Reimbursement?
Care Supreme is one of the most popular plans by Care Health Insurance. Designed to meet a comprehensive set of health insurance needs, Care Supreme offers extensive coverage. Let us take a look at the features that make it one of the best catastrophic health insurance plans available in the country:
Care Supreme by Care Health Insurance allows a sum insured starting from INR 7 lakhs. If you are looking for more coverage, you can choose a sum insured of up to INR 1 crore, that too, at an affordable premium.
Not all healthcare treatments need hospitalisation. There are treatments that don’t require 24 hours hospitalisation where the patients get discharged on the same day. However, even a few hours procedure can be heavy on the pocket. With Care Supreme, you can get coverage for all daycare treatments up to the sum insured.
With the Cumulative Bonus Super, you can avail cumulative bonus up to 100%. This can increase the basic sum insured! What’s all the more incredible here is that there is no loss of the bonus even if you make a claim during the policy year.
A major advantage of this plan is that it allows complete coverage for a lot of benefits. Take a look at the list of treatments that come with no sub-limits:
A critical illness can often mean multiple visits to the hospital. This may soon lead to exhaustion of your plan’s coverage. However, when you invest in a catastrophic insurance plan like Care Supreme, you get the assurance that even if your sum insured is depleted, it will be recharged automatically. That’s not all; the benefit is available for the same as well as unrelated illnesses.
In case of a medical emergency, when certain important decisions are to be made, you may want to doctor for second opinion. With Care Supreme, you get the advantage of unlimited E-consultations with general physicians.
To sum up, medical emergencies usually happen when you least expect them. Investing in a quality health insurance plan is the only way to handle the rising medical expenditures and get through this unanticipated crisis. Health insurance plans allow you to receive the necessary medical care without worrying about the prohibitive prices. All in all, you can get high-quality medical care without depleting your hard-earned cash by investing in catastrophic insurance plans.
Disclaimers: The above information is for reference purposes only: Policy Assurance and Claims at the underwriter's discretion.
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